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Structuring issues for commercial mortgage-backed securities in Australia

Chikolwa, Bwembya (2008) Structuring issues for commercial mortgage-backed securities in Australia. Pacific Rim Property Research Journal, 14(3), pp. 334-355.

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Abstract

This paper presents survey results of factors considered by originators/issuers and arrangers of Australian Commercial Mortgage-Backed Securities to obtain high credit ratings and those considered in the pricing of the issues to ensure their success. Rating of issues was found to be the main reason why investors invest in CMBSs and provision of funds at attractive rates as the main motivation behind CMBS issuance. Furthermore, asset quality was found to be the most important factor necessary to obtain a high credit rating, supporting the previous industry view that the assets backing the securitisation are its fundamental credit

Impact and interest:

3 citations in Scopus
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ID Code: 18640
Item Type: Journal Article
Additional Information: The contents of this journal can be freely accessed online via the journal’s web page (see Official URL). For author's SSRN download stats go to Author link below
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Keywords: Commercial mortgage-backed securities, structuring, credit rating, issuers, Arrangers
ISSN: 1444-5921
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > COMMERCIAL SERVICES (150400) > Real Estate and Valuation Services (150403)
Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Financial Economics (140207)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
Copyright Owner: Copyright 2008 Pacific Rim Real Estate Society
Deposited On: 12 Mar 2009 08:38
Last Modified: 29 Feb 2012 23:49

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